Pierce County had 10,112 new listings in the month of May, an increase of 26.28% from the previous month. Months of Inventory is currently at 4 months; industry analysts consider 4 to 6 months to be normal range. Average monthly sale prices decreased $2,678 from April prices, a 0.64% loss for the month. Sale Prices since June 2013 have increased by 6.55% for the year.
The housing market seems to be stabilizing as the glut of distressed homes have been sold and the economy is slowly improving. The 10 year chart below shows that over the years, during the fall and winter months there are decreased valuations which tends to increase again during the new year through summer.
The average sales price of $397,185 is still lower than the average sales price of $435,862 from June-July of 2007; 2007 recorded the highest prices in Washington State. Sales prices are still increasing year over year since the lowest prices of 2012. Data updated 6/1/2014 from the Northwest Multiple Listing Service (NWMLS).